Gold price goes up
Gold moves higher and is driven by different factors than other asset classes
(PresseBox) - In 1930, one US dollar or 1/100 ounce of gold could buy about 11 loaves of bread. In 2021, the 1/100 ounce of gold bought a good eight loaves of bread, but the one U.S. dollar bought only half a loaf. So gold has maintained its value much better. So the precious metal moves in value fairly independently, serving as a risk diversifier and protecting against events that cause real estate, for example, to lose value. In the pandemic year of 2020, gold hit a record high and outperformed bonds. Today in the time of the Ukraine war, fears of a combination of high inflation and slow economic growth ("stagflation") are rising. This is driving up the price of gold. While large economies are supporting the economic recovery, at the same time debt is rising faster than the economy is growing.
It is uncertain when inflationary pressure will rise and thus the attractiveness of gold as a safe haven. In any case, as long as the war continues, energy and food prices will remain high and even continue to go up. Supply chain problems will also remain. After all, Russia is the third largest producer of crude oil and also the third largest in terms of wheat production. Add to that the fact that Ukraine is the fifth largest producer of corn. Exports from these two countries are lacking or reduced, which in turn is reflected in prices. In this environment, the gold price was able to record the best quarter in two years.
So it's high time to look around at gold companies, for example Chesapeake Gold or Condor Gold. Chesapeake Gold - https://www.youtube.com/watch?v=ZQHD1y5fPuk&t=1s - is active in North and South America. Main project is the Metates project, which convinces with nice drill results. Condor Gold - https://www.youtube.com/watch?v=kylBHygyO-Q&t=2s - owns 100% of the La India gold project in Nicaragua, which is already fully permitted and in production set up mode.
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Datum: 21.04.2022 - 10:06 Uhr
Sprache: Deutsch
News-ID 658765
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